June 19 (Bloomberg) -- Hidroelectrica SA’s insolvency won’t
force the Romanian utility into bankruptcy though its planned
sale of a stake is no longer possible this year, Chairman Remus
Vulpescu said today in Bucharest.

The insolvency is meant to help the company’s
reorganization and won’t lead to cuts in power, he told
journalists.

“We didn’t eliminate or exclude the possibility of getting
money for Hidroelectrica through a share sale, but it can’t be
done this year,’’ Vulpescu said.